The African Union (AU) has challenged African startups and micro, small, and medium-sized enterprises (MSMEs) to seize the vast opportunities presented by the African Continental Free Trade Area (AfCFTA).

Addressing the third annual AU Micro, Small, and Medium-Sized Enterprises Forum, Albert Muchanga, the AU Commissioner for Economic Development, Trade, Tourism, Industry, and Minerals, urged African entrepreneurs to scale their businesses and leverage the AfCFTA to expand their reach across the continent.

Muchanga emphasized the importance of African MSMEs capitalizing on the AfCFTA to contribute significantly to Africa's economic development and job creation.

He encouraged these businesses to explore market opportunities in major global economies, such as China, and invest in research and development to foster innovation and drive future growth.

The AU Commissioner highlighted the forum's role as a crucial platform for capacity building and networking among African MSMEs.

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This year's edition has prioritized engagements in sectors such as agriculture, manufacturing, information and communications technology, minerals, and creative industries, which are seen as key drivers of MSME growth in Africa.

The forum aligns with the AU's Agenda 2063, a 50-year continental development blueprint aimed at empowering African small businesses to drive economic growth, foster innovation, and contribute to long-term job creation.

Experts and policymakers attending the forum underscored the importance of building effective cross-border trade partnerships to capitalize on the opportunities presented by the AfCFTA.

The high-level event features a series of panel discussions and workshops focused on innovation, empowerment, green financing, quality and innovation, and educational innovation.

By recognizing the pivotal role of MSMEs in Africa's economic development, job creation, and poverty reduction, the AU is committed to supporting their growth and development through initiatives like this forum.